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FL S0398

Bill

Official Source

Status

Introduced

1/25/2023

Primary Sponsor

Judiciary

Click for details

Origin

Senate

2023 Regular Session

AI Summary

  • Creates a 2-year statute of limitations for actions against appraisers or appraisal management companies, measured from when the alleged act or omission is discovered or should have been discovered
  • Establishes an absolute 4-year cap on such actions measured from when appraisal services were performed or should have been performed
  • Applies exclusively to contract, tort, and other legal theories for damages based on performance of appraisal services or appraisal management services
  • Excludes administrative proceedings by the board or department and actions founded on fraud from the new limitations period
  • Takes effect July 1, 2023, with actions accruing before that date required to be filed by July 1, 2024, or be barred

Legislative Description

Limitation of Actions Involving Real Estate Appraisers and Appraisal Management Companies

Last Action

Laid on Table, companion bill(s) passed, see CS/CS/HB 213 (Ch. 2023-223)

5/2/2023

Committee Referrals

Rules3/30/2023

Full Bill Text

No bill text available